Chevron to Double Venezuela Oil Production with $7 Billion Investment

Chevron plans to double its Venezuelan oil production to 600,000 barrels daily by investing over $7 billion.

TruthFoundry News Desk

Stands on 7 placed sources from 2 publishers.

As of 2026-09-02 20:00 UTC. Market figures are as the cited sources reported them at that time and may have moved since. This is news, not investment advice.

Chevron announced on September 2, 2026, that it will invest more than USD 7,000 million over the next five years to double its oil production in Venezuela. ^[1] Chevron plans to increase its daily production in Venezuela to approximately 600,000 barrels by 2031, up from the 2026 levels. ^[2] The article, published on 2026-02-09, reports that Chevron and Eni committed to expand oil projects in Venezuela under United States oversight. ^[3] Chevron's joint venture Petroindependencia, in which Chevron holds a 49% stake, obtained licenses to exploit the Carabobo 1 and Carabobo 2 Sur-A oil fields. ^[4] The United States and Venezuela signed an agreement on September 2, 2026, ceding to Washington the exploitation of 65,000 million barrels of crude oil, representing one-fifth of Venezuela's reserves for 100 years. ^[5] The article's cover caption states that a high-level official named Wright made his first visit to Venezuela since the capture of Nicolás Maduro. ^[6] The article was issued by France 24's Americas section on 2026-02-09 and features a video report. ^[7]

What this stands on

Chevron announced on September 2, 2026, that it will invest more than USD 7,000 million over the next five years to double its oil production in Venezuela. · Primicias

Chevron plans to increase its daily production in Venezuela to approximately 600,000 barrels by 2031, up from the 2026 levels. · Primicias

The article, published on 2026-02-09, reports that Chevron and Eni committed to expand oil projects in Venezuela under United States oversight. · France 24

Chevron's joint venture Petroindependencia, in which Chevron holds a 49% stake, obtained licenses to exploit the Carabobo 1 and Carabobo 2 Sur-A oil fields. · Primicias

The United States and Venezuela signed an agreement on September 2, 2026, ceding to Washington the exploitation of 65,000 million barrels of crude oil, representing one-fifth of Venezuela's reserves for 100 years. · Primicias

The article's cover caption states that a high-level official named Wright made his first visit to Venezuela since the capture of Nicolás Maduro. · France 24

The article was issued by France 24's Americas section on 2026-02-09 and features a video report. · France 24

We could not place any of them by their address. None is an official body: that part stands on reporting, not on the underlying document or transcript.

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